CHICAGO, May 6 (Xinhua) — Chicago Board of Trade (CBOT) agricultural futures closed mixed on Friday, with corn and soybean falling and wheat rising slightly.

The most active corn contract for July delivery fell 12.75 cents, or 1.6 percent, to settle at 7.8475 U.S. dollars per bushel. July wheat rose 2 cents, or 0.18 percent, to settle at 11.085 dollars per bushel. July soybean lost 25 cents, or 1.52 percent, to settle at 16.22 dollars per bushel.

Corn and soybean sagged with the financial market and improved Central U.S. weather forecast with warm and dry weather to be offered for the Central and East Midwest. Chicago-based research company AgResource holds that end users may use the break to start adding forward coverage ahead of the U.S. Department of Agriculture’s report next Thursday.

Improved planting weather is causing short-term pressure on CBOT. AgResource doubts that the decline will be long lived or very deep. Wheat values will closely monitor a developing drought in the European Union.

Stats Canada estimated Canada’s March 31 grain stocks at 10.1 million metric tons of wheat, down 6.4 million metric tons from last year and down 7.3 million metric tons from the five-year average.

A final storm system is pulling through the Eastern Central United States. This will be followed by a lengthy period of warm and dry weather. Midwest farmers should start to seed spring crops in earnest on May 11 and 12. The jet stream shifts north with showers and storms over the North Plains and the Northwest Midwest into May 15. Crops here will be late seeded.